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Archive for the ‘Tax issues’ Category

March 1, 2011 Five Posts to Help You Navigate Your Business’s Taxes This Year

Everyone’s favorite time of year – tax time – is just around the corner. Here are five blog posts that can help you as you begin to pull all your paperwork together to file. Cost Segregation If you are planning on buying or improving a building for your business, your CPA may recommend a cost [...]

February 16, 2010 Charitable Contributions

Just as an individual is allowed tax deductions for charitable donations, a business is afforded the same opportunity. A business’s charitable donations are a little different from an individual’s, though. A business can make three types of charitable contribution: services, cash, or property. If a company contributes its services to a charity, it is not [...]

November 12, 2009 Ad Valorem Tax

An ad valorem tax is a tax based on the value of real estate or personal property. Ad valorem is Latin for “according to value.” One example of an ad valorem tax is property tax, which a real estate owner pays on the value of the property being taxed. There are three kinds of property: [...]

October 27, 2009 The Pension Protection Act of 2006

The Pension Protection Act of 2006, signed into law in August 2006, was designed to help Americans protect and grow their retirement savings. The act includes discussion about tax incentives and regulations for pension and charitable giving reform. Those who engage in charitable giving are eligible for tax deductions, and there are rare cases in [...]

July 30, 2009 Tax Abatement

Tax abatement is a reduction of taxes or an exemption from taxes granted by a local government on a piece of property for a specified length of time. Those who own property in Economic Revitalization Areas (ERAs) are eligible for tax abatements. To qualify, owners must make improvements to their property or purchase and put [...]

July 23, 2009 C Corporation to S Corporation Conversion

One of the big questions you have to answer for yourself when considering incorporating your business is whether to classify yourself as a C corporation or an S corporation, also called a subchapter S corporation. This decision will have a big impact on the way your business is taxed. The main difference between the two [...]

May 5, 2009 Navigating Crucial Business Decisions in a Down Economy

In a down market, business owners tend to do one of three things: they close their doors, sit tight and ride out the storm, or capitalize on the opportunity. “One of the most important and most complex decisions that business owners have to make right now is whether to grow or retract in this economy,” [...]

April 23, 2009 What’s It Worth?

Everything has a value. Today, more than ever, it is important to know what it’s all worth. As a business owner, it is important to know the true market value of your machinery and equipment for a whole host of reasons, such as insurance and business valuation. It is relatively simple to determine the value of a [...]

April 9, 2009 1031 Exchanges

Tax time is here, and even while you’re puzzling over that pile of papers on your desk, you may already be planning for next year. If selling an asset and purchasing another is in your plans for 2009, you may want to consider a 1031 exchange. A 1031 exchange is an IRS-recognized method of deferring capital [...]